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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 30, 1999
APPLIED ANALYTICAL INDUSTRIES, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 0-21185 04-2687849
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
5051 New Centre Drive
Wilmington, North Carolina 28403
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(Address of Principal Executive Offices)
(Zip Code)
(910) 392-1606
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former name or address, if changed from last report)
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Item 5. Other Events.
On July 30, 1999, Applied Analytical Industries, Inc. (the "Company")
issued a press release reporting that the Company expects a second quarter net
loss of approximately 17 cents per share for the period ending June 30, 1999.
The press release is filed as Exhibit 99.1 hereto and is incorporated by
reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
Exhibit 99.1 -- Press release dated July 30, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 30, 1999
APPLIED ANALYTICAL INDUSTRIES, INC.
By: /s/ Eugene T. Haley
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Eugene T. Haley
Vice President and Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Exhibit
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Exhibit 99.1 Press release dated July 30, 1999
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
NASDAQ: AAII
Applied Analytical Industries, Inc. - AAI
5051 New Centre Drive ( Wilmington NC 28403
Contact: Gene Haley EVP\Chief Financial Officer - 910-392-1606
Applied Analytical Industries Makes Announcement on Anticipated Second
Quarter Results
Wilmington, North Carolina -- July 30, 1999 -- Applied Analytical Industries
(NASDAQ: AAII) said today that based on figures now available, it expects to
report a second quarter net loss of approximately 17 cents per share. Second
quarter results will be negatively impacted by a slight decline in year-on-year
fee for service revenues, delays in the signing of licensing agreements,
increased research and development expenditures, and under-utilization of recent
capacity expansions.
Frederick Sancilio, Ph.D., CEO and Chairman stated, "We believe that the decline
in revenues we expect in the second quarter reflects a timing issue rather than
a decrease in market demand for product development services. While we are
disappointed by the short-term financial results, we are continuing to manage
our business for the long term and we remain focused on executing our long-term
strategy. Our research and development expenditures are focused on product life
cycle management programs which we believe will yield substantial value."
Additional details will be provided in a press release on August 3, 1999.
Information in this press release contains certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements involve risks and
uncertainties that could cause actual results to differ materially, including
without limitation, the ability of acquired businesses to be integrated with
AAI's operations, actual operational performance, the ability to meet projected
revenue and earnings, the ability to acquire and maintain large client
contracts, the ability to hire and retain qualified employees and other items
that may cause the actual results to differ materially, which may be discussed
in the Company's recent Form 1O-K and 10-Q filings, its registration statement,
as amended, and other filings with the Securities and Exchange Commission.
